Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 226.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,043 shares of the oil and natural gas company’s stock after purchasing an additional 35,425 shares during the quarter. Intech Investment Management LLC’s holdings in Diamondback Energy were worth $10,218,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Founders Capital Management lifted its stake in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the period. First Community Trust NA purchased a new position in Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Logan Capital Management Inc. purchased a new stake in Diamondback Energy in the 4th quarter valued at approximately $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the 2nd quarter worth approximately $40,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on FANG. Jefferies Financial Group assumed coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. Morgan Stanley boosted their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Piper Sandler cut their price target on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Wolfe Research started coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.71.

Diamondback Energy Trading Down 0.3 %

Diamondback Energy stock opened at $181.00 on Friday. The stock has a market cap of $32.28 billion, a PE ratio of 10.20, a P/E/G ratio of 1.06 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $192.28 and a 200 day moving average price of $195.57. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.68 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.